Specialization and Trade Can _____ the Per-Unit Cost of Production

question 164

Multiple Choice

Specialization and trade can _____ the per-unit cost of production because _____ .

• A) decrease; it allows for more small-scale production.
• B) decrease; it creates economies of scale associated with large-scale production
• C) increase; it requires more expensive, specialized equipment
• D) increase; more expensive labor is needed.

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Definitions:

Psychosocial Development

A theory proposed by Erik Erikson that outlines eight stages through life, from infancy to adulthood, where individuals face and resolve conflicts that impact their social and personal development.

Erikson

Psychologist Erik H. Erikson developed a theory of psychological development that identifies eight stages from infancy to adulthood, each characterized by a central conflict.

Continuous Development

A perspective on human development which sees changes as gradual and incremental, without sudden shifts or distinct stages.

Discontinuous Development

The concept that development occurs in distinct stages that are qualitatively different from each other rather than as a smooth, continuous progression.